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Old 02-28-2006, 02:58 AM
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RSI - New twist for trend indicator

Very interesting idea contained in this article:

http://scientifictrader.com/stock_trend.htm

about using RSI as trend indicator.
Might be a nice addition to Braintrader and other systems...?

This appears to be a simple calculation but I am not
versed in MetaLanguage.

Would anyone please like to try to code this for MT4?

Thanks in advance,
William
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Old 02-28-2006, 11:35 AM
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Hi,
I have developed this indicator.
Try to use please.

Igor
Attached Files
File Type: mq4 RSIFilter_v1.mq4 (2.4 KB, 891 views)
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Old 02-28-2006, 11:50 AM
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I just tried this indicator with Braintrading rules #2 (M30 timeframe without confirmation on M15) and I may say that it works.

Just change the period of RSIFilter to 9 (according to the article).
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File Type: gif bt_rule_#2.gif (31.5 KB, 1499 views)
File Type: gif bt_rule_#2_1.gif (28.4 KB, 1376 views)
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Old 02-28-2006, 11:53 AM
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And as I understand Orange color is uptrend if above zero, and SkyBlue color is downtrend if below 0. If SkyBlue color is above zero so the trend is changing and will be changed finally if SkyBlue above zero will be changed to Orange above zero.

It works.
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Old 02-28-2006, 02:12 PM
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Quote:
Originally Posted by igorad
Hi,
I have developed this indicator.
Try to use please.

Igor
That was quick, thank you Igor.
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Old 02-28-2006, 04:14 PM
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Igor Roxs! Thanks, man!
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Old 02-28-2006, 04:21 PM
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Many thanks to Igor...
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Old 03-05-2006, 08:10 PM
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Script showing daily, 4h and 1h direction

Hello,

I am a new member of this forum, and what a great forum I must say . Keep up the good work .

Anyway I am very interested in this RSIFilter indicator, because it is exactly what I am using in my strategy, which I am putting together. I just had to check the RSI manually and now I don't have to thanks to you guys .

I have recompiled the indicator into a multitimeframe indicator, so that we can check if for example our 30M RSIFilter complies with the daily,4H and 1H RSIFilter, all in the same chart. Very convenient .

However it would be very nice if someone could write a script or something showing a comment lin in the upper right corner saying " daily direction is up/down, 4H direction is up/down .....".
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File Type: mq4 #MTF_RSIFilter.mq4 (4.3 KB, 338 views)
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Old 03-05-2006, 08:32 PM
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Quote:
However it would be very nice if someone could write a script or something showing a comment lin in the upper right corner saying " daily direction is up/down, 4H direction is up/down .....".
I added 4h to yours. I know the script but do not know how to make it write 2 lines for 2 time frames. Here is the 4h script... easily changed to daily.

double rsi = iRSI(NULL, PERIOD_H4, 14, PRICE_CLOSE, 0);
if (rsi == 50.0)
Comment("4hr RSI is flat ",rsi);
else if (rsi > 50.0)
Comment("4hr RSI is long ",rsi);
else if (rsi < 50.0)
Comment("4hr RSI is short ",rsi);
Attached Files
File Type: ex4 #MTF_RSI with 4h rsi.ex4 (3.1 KB, 160 views)
File Type: mq4 #MTF_RSI with 4h rsi.mq4 (4.1 KB, 290 views)
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Last edited by Mazoem; 03-05-2006 at 08:47 PM.
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Old 03-06-2006, 08:11 AM
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Quote:
Originally Posted by multa
Hello,

I am a new member of this forum, and what a great forum I must say . Keep up the good work .

Anyway I am very interested in this RSIFilter indicator, because it is exactly what I am using in my strategy, which I am putting together. I just had to check the RSI manually and now I don't have to thanks to you guys .

I have recompiled the indicator into a multitimeframe indicator, so that we can check if for example our 30M RSIFilter complies with the daily,4H and 1H RSIFilter, all in the same chart. Very convenient .

However it would be very nice if someone could write a script or something showing a comment lin in the upper right corner saying " daily direction is up/down, 4H direction is up/down .....".
yoo multa your indi is emty .

Last edited by Audio; 03-06-2006 at 08:21 AM.
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